American Tower Co. (NYSE:AMT) Stock Holdings Lessened by Lokken Investment Group LLC

Lokken Investment Group LLC lessened its holdings in shares of American Tower Co. (NYSE:AMT) by 9.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,154 shares of the real estate investment trust’s stock after selling 125 shares during the period. Lokken Investment Group LLC’s holdings in American Tower were worth $212,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp grew its holdings in shares of American Tower by 3.1% during the third quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust’s stock valued at $4,924,091,000 after purchasing an additional 635,726 shares during the last quarter. Geode Capital Management LLC boosted its position in American Tower by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 11,342,805 shares of the real estate investment trust’s stock valued at $2,074,956,000 after purchasing an additional 129,192 shares during the period. Norges Bank acquired a new position in American Tower during the 4th quarter valued at approximately $1,164,851,000. Charles Schwab Investment Management Inc. grew its stake in American Tower by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,316,312 shares of the real estate investment trust’s stock worth $975,065,000 after buying an additional 107,345 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in American Tower by 16.8% in the fourth quarter. Franklin Resources Inc. now owns 5,164,905 shares of the real estate investment trust’s stock worth $947,295,000 after buying an additional 742,632 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Activity

In related news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total value of $3,000,283.70. Following the sale, the chief financial officer now directly owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

AMT has been the subject of several analyst reports. Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a report on Monday, January 27th. JMP Securities assumed coverage on shares of American Tower in a research note on Monday, January 27th. They set an “outperform” rating and a $225.00 target price for the company. Scotiabank dropped their price target on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a research note on Thursday, January 23rd. Citigroup boosted their price objective on American Tower from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. Finally, Barclays raised their target price on American Tower from $214.00 to $223.00 and gave the company an “overweight” rating in a research report on Friday, March 21st. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $229.43.

American Tower Stock Up 1.0 %

Shares of NYSE AMT opened at $217.78 on Tuesday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The firm has a market capitalization of $101.80 billion, a PE ratio of 91.89, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. The firm’s 50-day moving average is $199.44 and its 200-day moving average is $204.20. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, beating analysts’ consensus estimates of $1.79 by $0.83. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter in the prior year, the company posted $2.29 earnings per share. The firm’s revenue was up 3.7% on a year-over-year basis. Equities analysts expect that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be issued a dividend of $1.70 per share. This is an increase from American Tower’s previous quarterly dividend of $1.62. This represents a $6.80 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend is Friday, April 11th. American Tower’s dividend payout ratio (DPR) is 141.37%.

American Tower Profile

American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.